CITIC

document
CITIC (China International Trust and Investment Corporation) is a Chinese state-owned conglomerate company. It was founded in 1979 by Rong Yiren, also known as "the Red Capitalist" due to his ties to the Communist Party of China.
CITIC's origins date back to 1978, when Rong Yiren took over a small state-owned trading company in Hong Kong to form what would become CITIC. The company initially focused on international trade, but quickly diversified into other industries such as finance, manufacturing, real estate, and telecommunications.
Today, CITIC has become one of the largest and most important state-owned enterprises in China, with assets worth over $900 billion. It operates in over 100 countries and regions, with a presence in industries such as banking, energy, infrastructure, engineering, and technology.
CITIC has also been involved in many large-scale international projects, such as the development of the Three Gorges Dam and the construction of the Papua New Guinea liquefied natural gas project. It has also made significant investments and partnerships with companies around the world, including Kazakhstan, Australia, and the United States.
The company is known for its strong ties to the Chinese government and its influence in the country's economy. It is also actively involved in social and community development projects, such as poverty alleviation and education initiatives.
CITIC's mission is to become a global leader in diverse industries, while also promoting sustainable development and corporate responsibility. Its vision is to be a respected and trusted company that contributes to the prosperity of China and the world.

There are a few notable features that set CITIC (China International Trust and Investment Corporation) apart from other companies:
1. State-owned conglomerate: CITIC is a state-owned enterprise under the direct supervision of the State Council of China. It was founded in 1979 as part of China's economic reform and opening up policies to promote foreign investment and international trade.
2. Diversified business portfolio: CITIC has a diverse range of businesses across various industries such as finance, resources and energy, manufacturing, engineering contracting, real estate, and infrastructure. This allows the company to have a stable and robust revenue stream.
3. Global presence: CITIC has a strong global presence with operations in over 100 countries and regions, making it one of the largest international conglomerates in China.
4. Influence on China's economy: As a major player in the Chinese economy, CITIC has significant influence and impact on the country's economic policies and development.
5. Government ties: Being a state-owned enterprise, CITIC has strong ties with the Chinese government, which gives it significant political support and resources.
6. Financial power: With over $120 billion in total assets, CITIC is one of the largest financial institutions in the world, giving it tremendous financial power and resources to carry out large-scale projects and investments.
7. Focus on innovation and technology: CITIC has a strong focus on innovation and technology, investing in research and development to drive its growth and stay ahead in the market.
8. Social responsibility: CITIC is committed to corporate social responsibility and has various initiatives in place to support sustainable development and give back to the community.

CITIC is a Chinese state-owned conglomerate company with a diverse portfolio of businesses and investments. Its business model can be summarized as a mix of financial services, resources and energy, manufacturing, engineering, and real estate.
Financial Services:
CITIC offers a range of financial services including commercial and investment banking, securities trading, asset management, insurance, and other financial products. Through its subsidiary CITIC International Financial Holdings Limited, the company also operates in overseas financial markets.
Resources and Energy:
CITIC is involved in the exploration, production, and distribution of various natural resources, including oil and gas, coal, iron ore, copper, and other minerals. It also has investments in renewable energy projects.
Manufacturing and Engineering:
The company has multiple manufacturing operations, producing a wide range of products including automobiles, heavy machinery, industrial equipment, and steel products. It also has engineering and construction capabilities, with projects both in China and overseas.
Real Estate:
CITIC has a significant presence in the real estate sector, developing residential, commercial, and industrial properties in various cities in China. It also owns and operates a number of hotels and resorts.
Investments and Diversification:
CITIC also makes strategic investments in various industries, including telecommunications, media, healthcare, and technology. Its diversified portfolio allows the company to mitigate risks and capture opportunities in different sectors.
Additionally, the company utilizes its extensive network and resources to facilitate cross-border investments and international trade activities. It also has a strong presence in the Belt and Road Initiative, investing in infrastructure projects in countries along the route.
Overall, CITIC's business model is characterized by its diversified portfolio, strategic investments, and strong financial capabilities, making it a key player in China's economy and global business landscape.

1. CITIC is a state-owned conglomerate based in Beijing, China.
2. It was founded in 1979 as part of China’s economic reforms and was originally known as China International Trust and Investment Corporation.
3. The company is under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council of China.
4. CITIC has diverse business interests in finance, energy, resources, real estate, and engineering.
5. It is one of the largest state-owned enterprises (SOEs) in China and is considered a Fortune Global 500 company, ranking at 156th in 2021.
6. As of 2021, the company has over 160,000 employees worldwide.
7. CITIC has a global presence with operations in over 100 countries and regions.
8. In addition to its business operations, CITIC is also involved in philanthropy and has donated millions of dollars to support projects in poverty alleviation, education, disaster relief, and environmental protection.
9. In 2016, CITIC Group Corporation merged with China CITIC Bank to form China CITIC Group, a company with over $1 trillion in assets.
10. As of 2021, the Chairman of CITIC Group is Chang Zhenming, and the CEO is Chen Xiaojia.
See Company Due Diligence: